Penobscot Investment Management Company Inc. lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,309 shares of the social networking company's stock after acquiring an additional 749 shares during the period. Penobscot Investment Management Company Inc.'s holdings in Meta Platforms were worth $8,823,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after acquiring an additional 1,502,553 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Meta Platforms by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock worth $28,719,970,000 after buying an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Meta Platforms by 2.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after buying an additional 1,049,121 shares during the period. Capital World Investors boosted its position in shares of Meta Platforms by 2.9% in the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after buying an additional 1,141,355 shares during the period. Finally, Norges Bank purchased a new stake in shares of Meta Platforms in the fourth quarter worth about $19,949,512,000. Institutional investors and hedge funds own 79.91% of the company's stock.
Insider Buying and Selling
In other Meta Platforms news, CEO Mark Zuckerberg sold 13,793 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $710.24, for a total value of $9,796,340.32. Following the transaction, the chief executive officer now owns 57,533 shares in the company, valued at approximately $40,862,237.92. The trade was a 19.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 608 shares of the business's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $488.18, for a total transaction of $296,813.44. Following the completion of the transaction, the chief operating officer now owns 5,622 shares in the company, valued at $2,744,547.96. The trade was a 9.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 124,831 shares of company stock worth $83,868,872 in the last 90 days. 13.61% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of research analysts recently commented on META shares. JPMorgan Chase & Co. increased their price target on Meta Platforms from $675.00 to $735.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. DA Davidson reduced their target price on Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Benchmark reduced their target price on Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Truist Financial increased their price target on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $719.52.
Read Our Latest Stock Analysis on META
Meta Platforms Stock Performance
NASDAQ META opened at $733.63 on Friday. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The company has a market capitalization of $1.84 trillion, a P/E ratio of 28.61, a P/E/G ratio of 1.81 and a beta of 1.26. The company has a fifty day moving average of $638.51 and a 200-day moving average of $626.48.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm's revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.71 EPS. As a group, equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's payout ratio is presently 8.19%.
Meta Platforms Company Profile
(
Free Report)
Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
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